U.S. News & World Report just announced its annual list of best colleges and universities. Not surprisingly, the top five were all pricey Ivy League institutions: Harvard, Princeton, Yale, Columbia and Stanford. Without a doubt, these are great educational institutions – but they also bring a hefty price tag with them.
As thousands of students across the country enter college in the coming weeks, and as high school juniors and seniors start thinking about the right higher education institution for them, it’s important to consider several factors before a decision is made. While Harvard and other Ivy League schools are wonderful, they may not be the most practical decision for you and your family when it comes to financial responsibility.
With back-to-school just around the corner, consider the following when choosing the right college for you or your children:
Programs Offered: Some degree programs are very specialized and not widely available, so be sure the college you’re considering has the program you’re interested in pursuing. Alternatively, some programs offer certifications or associates degrees at community or technical colleges – a much more budget-friendly option.
Student Loans: Borrowing money to attend college is a good investment in your future, but don’t take on more than you can handle. Most loans begin repayment just months after graduation, and in a tough economy, it can be difficult to find a job that enables loan repayment. Be sure to investigate interest rates, terms and repayment options before committing to anything.
Alternatives to the “Usual Suspects”: Trade schools, technical schools, apprenticeships and the military are all great alternatives to the “traditional” college experience, offering great on-the-job training and education, without a high cost. The military and even some jobs will reimburse your college tuition after a certain number of years, helping you to avoid debt all together.
The bottom line is this: an investment in an education is considered “good debt,” and it often pays for itself through higher paying jobs and more employment opportunities. No matter your financial situation, no one can ever repossess your education, so spend your time and your money wisely when it comes to choosing a college or university.
This entry was posted on Friday, August 20th, 2010 at 3:07 pm and is filed under Commentary. You can follow any responses to this entry through the RSS 2.0 feed.
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Education: A Great Investment
U.S. News & World Report just announced its annual list of best colleges and universities. Not surprisingly, the top five were all pricey Ivy League institutions: Harvard, Princeton, Yale, Columbia and Stanford. Without a doubt, these are great educational institutions – but they also bring a hefty price tag with them.
As thousands of students across the country enter college in the coming weeks, and as high school juniors and seniors start thinking about the right higher education institution for them, it’s important to consider several factors before a decision is made. While Harvard and other Ivy League schools are wonderful, they may not be the most practical decision for you and your family when it comes to financial responsibility.
With back-to-school just around the corner, consider the following when choosing the right college for you or your children:
The bottom line is this: an investment in an education is considered “good debt,” and it often pays for itself through higher paying jobs and more employment opportunities. No matter your financial situation, no one can ever repossess your education, so spend your time and your money wisely when it comes to choosing a college or university.
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This entry was posted on Friday, August 20th, 2010 at 3:07 pm and is filed under Commentary. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.